(TheNewswire)
Vancouver, BC – TheNewswire - March 1, 2024 - Cariboo Rose ResourcesLtd. (“Cariboo Rose”) ( TSXV: CRB ) has beenadvised by Basin UraniumCorp. ( CSE: NCLR ) ( “BasinUranium ”) , who are earning an interest in the Carbonate Hosted GoldProject (“ CHG ”), that diamond drilling is now underway.
In 2021 a VTEM airborne geophysical survey wascompleted over the Carbonate Hosted Gold (CHG) claim block andidentified a number of resistivity and magnetic anomalies near thetopographical high end of three silt sample gold anomalies. Aninitial test of some of these conductors was attempted in March 2023using reverse circulation drilling but was unsuccessful owing to theinability of the reverse circulation drill to penetrate the overburdenwith all seven holes abandoned in till at depths ranging from 43 to 64meters. The current drill program will again target these sameanomalies using a diamond drill provided by Paradigm drilling ofKamloops, BC.
CHG is located in southern BC on the east slope of theMarble Range near Clinton B.C. A key contributor to the geologicalconcept of CHG is the permissiveness of gold mineralization tocarbonate rocks (silty sediments and limestone) as demonstrated by theMuddy Lake deposit in northern BC, the Rackla gold project in theYukon Territory and the numerous gold deposits in Nevada. Sinceinitiating exploration in 2013 Cariboo Rose has targeted threedrainages sourcing in the Marble Range (limestone dominant) thatreturned highly anomalous gold analysis in silt with numerous samplesreturning values ranging from 100 ppb to 929 ppb gold in silt and togreater than 10,000 ppb gold in sluiced silt. These east-flowingdrainages source from an area approximately 8 kilometers wide. Aninteresting observation on the potential of CHG is an excerpt from theReport to the Minister of Mines [British Columbia] 1886 referencingG.M. Dawson of the Geological Survey of Canada; From the report:“Specimens of a jaspery quartz containing free gold and assaying$300 to the ton have been found in the early part of this year inthree separate locations within the surveyed bounds of the town ofClinton....” ( readers are warned to treat this reference withcaution owing to its time frame and rudimentarycontext).
Basin Uranium may earn a 60% interest in CHG by makingpayments of $300,000 and completing $1,500,000 in exploration by Dec31, 2027 ($850,000 now completed) and thereafter an additional 10%interest by completing a bankable feasibility study within 24months.
J.W. (Bill) Morton P.Geo, within the context of therequirements of NI-43-101, is the qualified person who takesresponsibility for this news release.
Bill Morton
J.W. (Bill) Morton, P.Geo., President
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611;email: info@eastfieldgroup.com
AboutCariboo Rose Resources Limited
Cariboo Rose owns seven mineral projects in BritishColumbia. In addition to Carbonate Hosted Gold these are:
-Lightning Strike, shale hosted gold, located east of100 Mile House, 100% owned.
-Carruthers Pass, massive sulfide, located southwest ofKemess Mine, 100% owned.
-Cowtrail, contiguous with Woodjam project (VizslaCopper Corp), 60% option to BRS Mining Resources.
-Pat, porphyry copper-gold, contiguous with VizslaCopper Corp’s Woodjam project, 100% owned.
-Coquigold, epithermal gold, north of WesthavenGold’s Shovelnose, 70% option to CMP Minerals.
-Koster Dam, gold, located near Black Dome Mine, 55% -45% joint venture with Discovery Lithium Corp.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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